Hua Yang Berhad Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended December 31, 2016
January 12, 2017
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Hua Yang Berhad reported unaudited consolidated earnings results for the third quarter and nine months ended December 31, 2016. For the quarter, the company reported revenue of MYR 73,954,000 against MYR 154,975,000 a year ago. Operating Profit was MYR 12,751,000 against MYR 40,112,000 a year ago. Profit before taxation was MYR 12,750,000 against MYR 40,001,000 a year ago. Profit for the period was MYR 10,419,000 against MYR 30,156,000 a year ago. Profit for the period attributable to owners of the company was MYR 10,419,000 or 2.96 sen per share basic against MYR 30,156,000 or 8.57 sen per share basic a year ago.
For the nine months, the company reported revenue of MYR 304,680,000 against MYR 448,169,000 a year ago. Operating Profit was MYR 68,645,000 against MYR 118,863,000 a year ago. Profit before taxation was MYR 68,136,000 against MYR 118,407,000 a year ago. Profit for the period was MYR 51,277,000 against MYR 88,732,000 a year ago. Profit for the period attributable to owners of the company was MYR 51,277,000 or 14.57 sen per share basic against MYR 88,732,000 or 25.21 sen per share basic a year ago. Net cash from operating activities was MYR 63,404,000 against MYR 99,929,000 a year ago. Purchase of property, plant and equipment and intangible assets was MYR 287,000 against MYR 498,000 a year ago. Land and development expenditure was MYR 16,469,000 against MYR 34,022,000 a year ago. The disappointment in earnings was mainly due to lower-than-expected revenue recognition from on-going projects and some compression in margins driven by higher sales and marketing activities. The low sales were due to the lack of new launches.
Hua Yang Berhad is a Malaysia-based company, which is engaged in investment holding, property development and provision of management services. The Company operates through two segments: Property development and Concession assets. The Property development segment is in the business of constructing and developing residential and commercial properties. The Concession assets segment is the business of collection of rentals over the concession periods from assets held under build, operate and transfer agreements. The Companyâs projects include Linea, Aston Acacia, Sakura, Elemence, Centaurea, Bandar Universiti Seri Iskandar, Taman Pulai Hijauan, Astetica Residences, Freesia, Erica, Meritus Residensi, Aviary Residence, Puchong Horizon, Cube One South, Zeta Residence One South, Sentrio Suites, Senawang Link, Metia Retail Lots, Oasis BU 4, Oasis BU 11, Oasis 9, One South, Pedestrian Mall BUSI, Business Center 5 BUSI, Dâecolake BUSI, Ridgewood, Seri Andaman and Greenview Residence.
HUA YANG 
